Intech Investment Management LLC Has $950,000 Position in MasTec, Inc. (NYSE:MTZ)

Intech Investment Management LLC lowered its stake in MasTec, Inc. (NYSE:MTZ - Free Report) by 39.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 7,720 shares of the construction company's stock after selling 5,055 shares during the period. Intech Investment Management LLC's holdings in MasTec were worth $950,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Hobbs Group Advisors LLC acquired a new position in MasTec in the second quarter worth $27,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of MasTec during the 2nd quarter worth approximately $40,000. GAMMA Investing LLC lifted its holdings in shares of MasTec by 64.9% in the 2nd quarter. GAMMA Investing LLC now owns 366 shares of the construction company's stock worth $39,000 after purchasing an additional 144 shares during the last quarter. UMB Bank n.a. boosted its position in MasTec by 46.3% during the 3rd quarter. UMB Bank n.a. now owns 379 shares of the construction company's stock valued at $47,000 after purchasing an additional 120 shares during the period. Finally, Blue Trust Inc. grew its stake in MasTec by 32.6% during the 2nd quarter. Blue Trust Inc. now owns 561 shares of the construction company's stock worth $60,000 after buying an additional 138 shares during the last quarter. Institutional investors and hedge funds own 78.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MTZ. UBS Group raised their target price on MasTec from $129.00 to $147.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. B. Riley reiterated a "buy" rating and issued a $166.00 price objective (up from $151.00) on shares of MasTec in a research report on Tuesday, November 5th. Citigroup upped their target price on shares of MasTec from $122.00 to $150.00 and gave the stock a "buy" rating in a research report on Tuesday, October 22nd. TD Cowen lifted their price target on MasTec from $115.00 to $160.00 and gave the company a "buy" rating in a report on Monday, November 4th. Finally, Robert W. Baird increased their price objective on MasTec from $120.00 to $153.00 and gave the stock a "neutral" rating in a report on Monday, November 4th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $148.62.

Insider Transactions at MasTec

In other news, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $145.00, for a total transaction of $435,000.00. Following the transaction, the director now owns 42,478 shares in the company, valued at approximately $6,159,310. The trade was a 6.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Robert E. Apple sold 20,000 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $126.27, for a total value of $2,525,400.00. Following the completion of the sale, the chief operating officer now directly owns 217,202 shares of the company's stock, valued at approximately $27,426,096.54. This represents a 8.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,823 shares of company stock valued at $7,493,301 in the last quarter. Insiders own 21.30% of the company's stock.

MasTec Price Performance

NYSE:MTZ traded down $0.49 during mid-day trading on Friday, reaching $144.06. 557,515 shares of the stock were exchanged, compared to its average volume of 857,561. MasTec, Inc. has a 1-year low of $57.38 and a 1-year high of $150.12. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $11.42 billion, a PE ratio of 129.06 and a beta of 1.70. The business has a fifty day moving average price of $131.17 and a 200 day moving average price of $116.08.

About MasTec

MasTec, Inc, an infrastructure construction company, provides engineering, building, installation, maintenance, and upgrade services for communications, energy, utility, and other infrastructure primarily in the United States and Canada. It operates through five segments: Communications, Clean Energy and Infrastructure, Oil and Gas, Power Delivery, and Other.